Assessment Description: This assessment is a culmination piece, in which you will be given an opportunity to combine the information you have accumulated in Assessments 1 and 2. More importantly, you will need to showcase an understanding of marketing issues related to consumer behaviours such as attitudes, group influences, culture, social class, consumer learning processes, and personal buying decision-making processes
The Task: Based on the scenario below, you are required to write a 2000-word report. In this report, you must demonstrate an understanding and application of various consumer behaviour concepts and theories by analysing the facts gathered from the video and the survey, and present strategic recommendations. You will be required to incorporate recent peer-reviewed literature in order to justify your proposed recommendations.
Scenario: Imagine that you have just been employed by the company of your chosen product or service that you analysed in your earlier assessments. You have been asked to prepare a report in which you must critically analyse the company’s current marketing strategy and marketing communication mix and its alignment to your findings in assessment 1 and 2. More specifically, you will need to determine if identified consumer behavioural factors in previous assessments align with the company’s current marketing focus. Based on your analysis, you are also required to provide at least three strategic recommendations to the board of directors, along with reasons for recommending further improvements, all of which must be based on scholarly sources.
The following report structured to represent a comprehensive understanding on the conduct of marketing strategy or marketing psychology to retain customer and defining consumer behaviour. The report has initiated by introducing a comprehensive comprehension of services and products of the contextual organization Samsung. The report has elaborated extensive range of quality products and services that are provided by the organization and proceed further by critically analysing the study. The report has presented the contemporary budget-oriented marketing strategy that is being used by the organization to retain customers such as competitive pricing and extensive advertising. The report has also demonstrated the communication mix that Samsung utilizes to maintain efficiency within the workplace and improve proficiency along with brand awareness. The report has also demonstrated the alignment between the current organization marketing focus and consumer behavioural factors that are demonstrated in previous assessments. From then the report proceeds further by introducing a comprehensive recommendation for a effective marketing strategies that will help Samsung to improve the selling consistency and profitability in extensive manner.
Selected Products or Service Overview
According to the study of assessment 1 and 2 the following report is based on smartphone products provided by Samsung and its services that makes significant impact on the consumer behaviour. The following report has selected range of smartphone products and related services to elaborate the further study. Samsung provides extensive range of innovative and cutting edge smartphone products to maintain it efficiency in the competitive market. The products of Samsung are segmented into several customer purchased criteria which ranges from mid range to higher ranges of price. Several renowned products provided by the company are as Galaxy A2 Core, Galaxy A70, Galaxy Fold that are products from Galaxy series and other high range series such as S7, S8 and S9 etc. The products of Samsung are renowned for their durability and efficiency which influences the consumer purchasing decisions intensely (Wu and Vasquez-Parraga, 2016). The company uses latest Android and Samsung Experience Operating System for its products along with latest and innovative hardware power which improve the customer purchasing and loyalty exponentially.
Company is considered as one of largest electronics retail brand throughout the world, Samsung Electronics, the biggest subsidiary, manufactures a wide variety of products from consumer electronics such as TVs, tablets, smart watches, headsets for virtual reality, home theatre and video, desktop computers, laptops, screens, printers, memory devices, home appliances and monitoring security systems (Yulianda and Handayani, 2015). However, as mentioned the following report will consider the organizations expertise on smart phone manufacturing and services that impacts the marketing psychology and consumer behaviour of the industry.
Current marketing strategy: The buyers, users or consumers have never been connected to certain technology products; they always strive to have the best. Such a scenario has forced technology makers to quickly produce fresh gadgets to meet customer requirements, and Samsung has never failed in this element for many years. With its smart phones, Samsung has reached incredible heights, making the brand a symbol of quality and reliability for its customers. The company Samsung also utilizes skimming prices to win over its competitors the upper hand (Mithas and Rust, 2016). The marketing plan for Samsung became one of the most efficient approaches ever developed because it helped a budget-driven business modify its composition and become a maker of power.
This company is always competitively pricing their phones and other devices with all other producers, remaining under whatever apple is offered. Samsung's advantage in terms of its items is that all Samsung's goods have been trusted because of the manner Samsung goods have done over the past few years. Brand problems in Samsungs products were negligible. The company is present on the market through different channels. It operates on the notion of channel marketing in which three sections exist (Todorova, 2015). The distribution system in Samsung is the most intriguing. The company Samsung has a single distributor in several towns by which they allocate across a large region or a territory. As a business, Samsung thinks in attracting the client by advertising, but at the same moment utilizes powerful strategies to push the product through sales advertisements to the client. These are the current marketing strategies that Samsung uses to increase its competitive advantage in the market and attract more customers towards it.
Marketing communication mix
The categorization of the marketing communication mix comprises of the direct marketing, events, personal selling, advertisement and sales promotion. These aspects of the marketing communication mix are detailed in this part of the assignment. Samsung’s marketing communication mix uses a range of promotional communication channels such as advertising for media and print, behavior and experiences, sales promotion, and public associations (Sever, Sever and Kuhzady, 2015). The company also makes extensive use of viral marketing as one of the most efficient techniques of advertising. The organization utilizes sales promotions more widely than most of its rivals as a marketing tool. Samsung rewards program is point based system that awards an amount of points for certain purchases.
The points can be used to select a prize from the catalog that includes everything from gift cards to the recent offerings from the company Samsung. With appealing display stands, Samsung Retail Stores are intended and goods are displayed in an effective way (Pomering, 2017). Samsung offers free gifts and products in occasions and on special purchases. The company knows the process to attract customer by the right promotional ideas and strategies, and the company utilizes the marketing communication mix in the right way to enhance its various departments of sales, promotion and advertisement.
In the event of public relations, the association with another type of extremely recognized business is one of the ways of improving the brand name and value, as well as helping to communicate the present stepping-edge technology of the company's launched goods. At the moment, the element of the company's marketing communication mix activities lags behind in offering proper customer experience (Pomering, 2017). The consumers have few techniques to gain experience of something other than the products of the company Samsung. As far as personal sales are concerned, the firm has not intended particular shops for the goods and generally relies on resellers to provide a better type of service or also promotes customers to attempt the products.
Determination of the Alignment of consumer behavioral factors with the company’s current marketing focus
Brand success is the objective pursued by firms trying to lead the market. Brand value is one of the major requirements for improving the company's branding. The unique nature of the brand is directly and indirectly affected by customers, thereby enhancing the company's value. In 2009, Samsung ranked 19th in the Top 100 International brands. That demonstrates the value of the brand of Samsung up 11 percent from the previous year, according to the global branding cross-brand yearly report (Karjaluoto, Mustonen and Ulkuniemi, 2015). The reason for this achievement is Samsung's strategy to create marketing strategy for distinct areas, and to boost brand view, sponsored by Samsung at Olympic Games and other events.
The purchase of the smart phone was influenced by feasibility was positive as per survey in the previous assessment. Plus after analyzing the current marketing strategies of Samsung it could be determined that there is define alignment of this customer behavior with the company’s current marketing techniques (Karjaluoto, Mustonen and Ulkuniemi, 2015). The more value a company provides to its clients, the greater the customers' connection and connection with it. Samsung always follows this perspective thus the company has influence customer choice of customers towards itself. At this modern time online booking of tickets through mobile application is very simple, and the company has taken into account the aspects of mobile application and developed it. Thus, the company has also attracted the customers and influenced customers to buy Samsung’s smart phone as the company has developed many application.
The company Samsung has provided and developed its product features mainly its smart phone products. The company tries and provided the advanced featured products to its customers. Thus, in this case as per previous assessments that more than 50 percent of the customers are seen to buy their smart phone after knowing its features. And as Samsung provides updated features to its products thus, it will be able to attract and influence the customers who see for features of smart phone before their purchase. Moreover, the marketing team of Samsung gets feedback data from its customers about its products and works accordingly to develop their product features (Todorova, 2015). The company Samsung is known to make highly durable phone like its rival brand that is Apple. And the company also is known to make waterproof phone.
These features of Samsungs products always influence the customers to buy their product. The company uses advanced materials to build its smart phones; Samsung uses Gorilla glass 6 as the protective glass for its mobile phone and it is known to be a highly durable glass (Shankar et al., 2016). These all aspect attracts and influences most customers to buys Samsung’s phone. As per the previous survey on the second assessment more than 70 per cent of customers have been seen to buy phone for internet usage and access. Thus in this case the company Samsung provides all the facilities for internet usage thus, the alignment of customer’s behavior in this case is clear. The company’s brand image is very high thus; it obviously attracts potential customers towards it. Samsung always uses the social media platform for promotion, thus, social media has a greater contribution in the process of promotion for Samsung. Plus, this platform of social media has attracted many customers towards the company.
In order to improve the profitability and selling consistency it is essential for the company to implement an effective and productive marketing strategy which will help it to improve the organizational profitability exponentially. Thus, the following section has represented three comprehensive marketing strategies that will improve the marketing efficiency and selling consistency of Samsung in greater extent (Hartley, 2017). Hence, such potential strategies are as follows:
1. Use of effective promotional methods to advertise specific mobile devices and improve marketing efficiency.
Google Adword allows advertisers to launch campaigns to target particular mobile devices. For particular mobile platforms and apps, company can use this platform for advertisement purposes.Also, compared to desktop customers; CPC is growing for portable customers. The company should consider some potential aspects of efficient advertisement and take actions accordingly. Thus, some effective approaches on this manner are mentioned below which will improve the promotional method and marketing efficiency of the company in extensive manner.
2. Develop efficient product strategy
The company should assess what is being delivered to the consumers and improve the product quality according to the consumer feedbacks. The differentiation opportunities relate to perceptions of quality, importance, characteristics and functions, so it is essential for the company to consider these aspects and develop their products accordingly. Majorities of firms spends less time with the product strategy, concentrates more on service and price competitiveness. Samsung can use these factors to advantage by improving the products quality immensely which will improve the durability and efficiency of the products and improve the customer loyalty immensely (Ayodele and Ifeanyichukwu, 2016). The business can fulfil the perceived requirements of a particular market niche by fine-tuning the product strategy and by combining quality, price, characteristics and functions.
This way the company will be able to provide extensive range of quality products and satisfactory level of services to its customers. This strategy will improve the organizational reputation along with immense customer loyalty and support. Implementing such effective product strategy will help the organization to attain more customers in short time and enhance the selling consistency with appreciable product demand.
3. Consider the Emerging Change
The company has to pay attention to the business and market modifications it notices and Try to spot patterns it can transform into fresh marketing possibilities before the rivals. It is crucial for the business as the first business to define and take intervention on an evolving trend is often the market leader in its sector (Mostert, Petzer and Weideman, 2016). In this regard, Samsung needs to assess the changing and evolving demands of the consumers and develop its products accordingly to compete with the changing market.
The organisation can take benefit of the Internet. And use it to attract fresh clients that the company did not reach off-line and catch competitor clients that did not yet acknowledge the website's business capacity. However, to leverage a fresh evolving trend, the company should not create abrupt significant adjustments in the business. Instead, to suit the company it is essential to add something (Hartley, 2017). For clients who are not prepared to adjust to the fresh trend, it is not appreciable. Samsung marketing strategy assignments are being prepared by our online marketing assignment help experts from top universities which let us to provide you a reliable best assignment help service.
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